An example of a Pigovian tax would be a tax on:
A. corporate capital gains.
B. cigarettes.
C. income.
D. All of these are examples.
Answer: B
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Your father tells you he earned $3.00 per hour when he was 16 in 1977; you remember making $6.00 per hour when you were 16 in 1999 . Given that the CPI was 36.7 in 1977 and 166.1 in 1999, which of the following is the 1999 real equivalent of your father's hourly earnings when he was 16?
a. $4.48 b. $6.78 c. $13.58 d. $15.01
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and GDP Price Index in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period falls, and GDP Price Index rises. b. The quantity of real loanable funds per time period falls, and GDP Price Index falls. c. The quantity of real loanable funds per time period rises, and GDP Price Index falls. d. The quantity of real loanable funds per time period falls, and GDP Price Index remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Who asserted that "the Federal Reserve's job is to take away the punch bowl just as the party gets going?"
a. president George W. Bush b. president John F. Kennedy c. economist John Maynard Keynes d. former chairman of the Federal Reserve System William McChesney Martin
Bank reserves are:
A. loans issued by banks deposited into checking accounts. B. checks held by depositors. C. cash and deposits a bank keeps on hand or at the central bank. D. real assets deposited at banks.